Local RadioShack seems safe
FAIRMONT – No locations have been identified yet by RadioShack, a week after the company announced it would close up to 1,100 sites, or 20 percent of its 5,200 U.S. stores.
RadioShack at Five Lakes Centre in Fairmont is not expected to be one of the stores facing closure, according to sources who wished to remain anonymous.
“This store’s not going to close. … We know that,” said one confident employee.
Fairmont seems to have some advantages over its sister stores. First, southern Minnesota isn’t saturated with RadioShacks. Of the 81 stores in Minnesota, the vast majority are located in the Twin Cities area. The nearest store to Fairmont is about 30 miles away, in Jackson.
(California, by the way, has the most stores of any state – a whopping 565.)
Also in its favor, the local RadioShack fared well over the holiday season, according to an employee who sees that as a positive sign Fairmont’s store will remain open.
Lower store traffic over the holiday season is one of the reasons cited by CEO Joseph Magnacca for RadioShack’s poor four-quarter results.
“We have undertaken a comprehensive review of our portfolio from many angles – location, area demographics, lease life and financial performance – in order to consolidate our store base into fewer locations while maintaining a strong presence in each market,” Magnacca said in a news release issued last week by RadioShack.